I introduced you to OmiseGo and the OMG token on July 24. At the time it traded for $1.48.
Fast forward to today and it’s trading at $6.50, a gain of 339%. So the question is, what’s next for OmiseGo?
The rally took OmiseGo’s market cap from $145 million to over $600 million today.
One of the advantages of Omise is that it has been around since 2013. It’s done a couple rounds of venture backed capital funding, one in May 2015 raising $2.6 million and one in July 2016 that raised $17.5 million.
Omise is already a leading payment gateway in Southeast Asia. According to co-founder and COO Don Harinsut Omise is looking to expand into Europe, Japan, and Africa.
It’s also unique in that users don’t need a banking relationship to use Omise. Users can exchange fiat and decentralized currencies without trusted gateways. Other payment services like Wechat require you to have a bank relationship. Omise already has over 50,000 merchant relationships.
If it all works OmiseGo will be the first decentralized exchange that can operate between cryptocurrencies. Here’s a good article with more details.
I’m long OMG and looking to pick up on the dips.
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